Skip to comments.All Korean Markets open up!
Posted on 10/12/2008 5:13:15 PM PDT by big bad easter bunny
All are up, continue capitulation!!!
S&P 500 +39.40 930.40 10/12 8:01pm
Fair Value 901.76 10/11 6:15pm
NASDAQ +44.50 1327.00 10/12 8:01pm
Fair Value 1278.19 10/11 6:15pm
Dow Jones +308.00 8678.00 10/12 8:01pm
NYSE closed Monday due to Columbus Day?
Seems to be going up at the moment.
I checked on the exchange rate for the Korean won and it was 1390 won to the dollar. It hasn’t been that bad since 1997.
Oy - I just got my stomach back from the last 5 days/nights of watching the Asian/Euro/American markets.
I shouldn’t have had a chili dog tonight :(
I was in Korea from 95-98 and remember when that hit. When I first went there, the rate was something like 750-800 Won x Dollar. In late '97 in a matter of weeks it shot up to something like 14-1500 Won x Dollar. For those of us that got paid by Uncle Sam, it was like the whole economy was on sale for 50% off.
So everything is now so underpriced that the water is warm?
DJIA futures are up 266.
Yeah Joe...I remember those days. And for those of us doing business with Korean company’s and clients...it was like a long long funeral. They have a lot of uncertainty in their house. They are always doing a major job of ‘house-cleaning’ of their gov’t and big corporate execs. Its a bear.
...and still going up as of now. :-)
Just the bond markets as the banks are on holiday.
Columbus Day is about the only day of the year that the banks, post office most other governments offices (banks shortlY?) are closed but the NYSE is open-don’t know about the other stock exchanges.
National Holiday over here in Japan so Nikkei closed .
Its getting there, but there is absolutely no sign of any bottom being formed yet. Until then, don’t try to pick one.
The volitility indexs are off the charts and you’ve got many panicking investors liquidating massive parts of their 401K and investment accounts to sit on cash. There is a total lack of confidence out there right now. They aren’t going to be jumping back in anytime soon. What I do expect soon is a pretty big short squeeze on some of the really quality names like Alcoa that have been beaten like a dog, but it may turn into a big ol dead cat bounce.
Play it very carefully. Make sure you have stops programed in tight. Don’t catch a falling knife.
Perhaps the team of people that are trying to tank the markets have run out of cover from which to short. I don't expect 14,000 any time soon, but I see 9,000+ coming quickly.
I bought on Friday ..just confessed to hubby..fingers crossed. lol Go Go Go!
Thanks, I was wondering why there were no reports.
Yeah, but for those of us living on the Korean economy, it really hurt trying to send $$ home to the States (to star paying off my student loans).
In honor of this thread, you should have had a kimchi dog. ; )
I was in Spain during the 80’s and sort of lived like King Juan Carlos. Three day weekend? Boom already scheduled Sleeper train to Alicante and hotel reservations in Benidorm.
Australian Securities Exchange
As I recall the stock market on Columbus day is usually pretty quite; I think tomorrow will be an exception.
A big exception! There are trillions on the sidelines. I don’t know what it will close at, but the ride will be something.
So what are you buying?
I’ll dribble in about Tuesday or Wedneday. It seems like everybody is done throwing up.
“So what are you buying?”
There are a lot of good buys if the dividends continue. Some of my stocks are paying between 18 and 24% dividends as of Friday’s prices. That has to entice some people.
Asia stock markets (note some did not open today, so check the dates)
Our markets will open around +200. Doesn’t mean much. Look up “pullback” in a thraders dictionary. That is all this is. Dow is going to 7500-7200 support in next weeks.
Bombay, India opens up 3.4%
Asian markets looking good right now. Dow futures up 282, and hopefully will hold overnight. I’m looking for a nice big rally at the open so I can close out some of the long positions I picked up on the Friday dip. :)
I got behind on my 401K deductions this year but now I have designated maximum amount into the 401K - good time to buy. There must be huge amounts of pending automatic 401K deposits which should help lift the market.
The dow starts up 300, then finishes -300 for the day.
CAMP RED CLOUD, South Korea Americans may not have to wander far outside the base gates for a relatively safe investment with above average yields.
As the South Korean currency plummets to 10-year lows, the nations banks are aching for scarce U.S. dollars, and theyre willing to pay hefty interest rates for them.
On Friday, Stars and Stripes found that South Koreas top banks are paying roughly 5.6 percent for one-month term deposit accounts, and as much as 6.6 percent for six-month deposit accounts.
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